Ricardo Bueno's Blog

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Pasadena Mortgage Rates Report - October 29, 2007

Percentage_sign Recommendation: Float, but float with caution!

Contact me for a rate quote!


With no reports on the Economic Calendar today, the bond market is holding steadPicture_8y which means interest rates are holding. The Big News is scheduled for Wednesday (October 31st) as we all await the Feds next move; whether to cut rates or not. Also up on the Economic Calendar we have: the quarterly Employment Cost Index, Core Personal Consumption Expenditure (PCE).

Did you know...
Today is "Black Tuesday!" 78 years ago today, October 29, 1929, the Stock Market crashed have lost approximately 60% of its value. Soon thereafter came the Great Depression. Unemployment rates sored to historic highs of 25%. So if you think the Real Estate Market isn't doing so well, just think how bad things were back then.

2 comments • Ricardo Bueno • October 29 2007 04:59PM

Comments

Ricardo - With all the gloom and doom the newspapers are reporting, it was cool to read your post remining us this is the anniversary of Black Tuesday.  Even though the lending market is in recovery, we are certainly enjoying great growth in the stock market and a very healthy job market.  Your article helps put things in better perspective.  Thanks!
Posted by Laguna Homes|Laguna Condos| Laguna Real Estate|Marlene Bridges (Sherman Smith & Associates) over 2 years ago

Thanks for visiting Marlene. You know, just a little reminder to show that things are never as bad as they seem. 

 

Posted by Ricardo Bueno (The Real Estate Tomato) over 2 years ago

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